US Sanctions Iranian Crypto Exchanges Over Alleged IRGC Ties
The US Treasury Department has expanded its 'Economic Fury' campaign against financial networks linked to Iran by sanctioning Iranian crypto exchanges Shelbit and Aban Tether. The Office of Foreign Assets Control (OFAC) said that Shelbit moved large cryptocurrency volumes, helped evade sanctions, and supported the Islamic Revolutionary Guard Corps (IRGC).
According to OFAC, IRGC-linked wallets sent more than $1 million in cryptocurrency to Shelbit and received over $2 million from the exchange. The Treasury also accused Shelbit of serving more than 2,000 gambling websites connected to a network that laundered tens of millions of dollars.
The sanctions also target Shelbit operator Siavash Kayvanpour and companies tied to him in Georgia, Poland, and the United Arab Emirates. OFAC said that Kayvanpour-controlled wallets transferred more than $2 million to Nobitex, Iran's largest crypto exchange, which was sanctioned in June.